Top Down Analysis:
Monthly:
The pair is stuck in a range since 2015;
Key Resistance comes in at 0.775;
Key Support comes in at 0.7225;
Weekly:
Range;
Key Resistance comes in at 0.78750;
Key Support comes in at 0.71600;
Daily:
Price is overextended to the upside;
May find Resistance on 0.775 level;
Found Resistance at 0.7725 which is 161.8 Fibonacci Extension of the trend;
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Moving Down to the 4H for execution:
-MACD Divergence;
-H&S Pattern;
Entry Trigger:
Bearish Pin Bar rejecting 1st Lower High area;
Stop Loss:
A few pips above entry candle's high;
Target Profit:
Previous Resistance + 161.8 Fibonacci Extension Level;
Trade Management:
Set and Forget;